Setting Up New Business Samples for Students †MyAssignmenthelp.com

Question: Discuss about the Setting Up New Business. Answer: Introduction In this report, a new busienss plan has been taken into consideration. The new busienss plan which will be introduced in this market is Spray cleaner. This new spray cleaner would be mostly used by clients to clean their gadgets and specs. This product is mostly used for cleaning T.V., screen, protecting gadgets from the dirt and other issues. The name of the business would be Max spray Company. Therefore, the trading name of the business would be Max spray. It is considered that the business of Max spray would be started at the small level. It is evaluated that the business structure of organization would be Sole trader (Westwood, 2016). The main reason of undertaking new business as sole trader is related to its small size and less complicated corporate governance. The business will be accompanied by the several steps such as buying raw chemicals from the vendors, implementing proper value chain activities and converting the chemicals into finished goods. After that, packaging and selling activities will be arranged for the new spray products. The main focus of Max Spray Company would be to implement proper manufacturing activities to convert raw chemicals to finished spray for the clients in market. The main reason for selecting this business is based on its high growth potential less suppliers. The increasing market share of gadgets also reflects the availability of the potential market share for the Max spray in market (Finch, 2016). The target market of company would be to mostly focus college going students and gadgets selling hub of Australia in which all the gadgets and tools are sold. The price of Max spray is very low which may allow it to focus on person indulged for all types of income This max spray product will be highly used by the people to keep their gadgets clean. In addition to this, offices and schools are also the target market that could use these max spray products to keep their gadgets clean (Bryman and Bell, 2015). In order to set up new busienss of Max spray in market, the first step would be arranging finance and buying required machines. It will help in further processing of chemicals and manufacturing of Max spray. In addition to this, company needs to focuses on the hiring expert employees for the success its busienss. The main reason to start up this Max spray business is based on the potential growth of the market. There are very less number of rivals who are running their business in this industry (Burns, 2016). Conclusion I have analysed all the internal and external factors of the market and evaluated that people are more inclined towards keeping their gadgets and tools clean. Therefore, by using max spray, it will allow them to clean their gadgets in sophisticated manner. Now in the end, it could be inferred that due to the availability of high potential return, max spray will good amount of profit from its business. References Bryman, A. and Bell, E., 2015.Business research methods. Oxford University Press, US Burns, P., 2016.Entrepreneurship and small business. Palgrave Macmillan Limited. Finch, B., 2016.How to write a business plan. Kogan Page Publishers. Westwood, J., 2016.How to write a marketing plan. Kogan Page Publishers.